Global Sulfuric Acid Market to Expand at a CAGR of 2.6% in the Coming Years

Published By : 16 Feb 2016 |Published By : QYRESEARCH

Sulfuric acid has found its applications in a variety of places such as waste water treatment plants, metal and mining industries, in the manufacturing of fertilizers, paper and pulp industry, and also for the preparation of synthetic chemicals. Sulfuric acid is also used at homes for cleaning purposes.

Asia Pacific to hold the largest share of the sulfuric acid market:

According to a report published by Transparency Market Research, the market for sulfuric acid in the Asia Pacific region is expected to expand at a favorable rate during the period 2015 to 2023. Due to rise in the consumption of sulfuric acid, Asia Pacific is estimated to witness fastest growth in the sulfuric acid market.

High Production of Chemicals in China to be Responsible for Boosting the Market for Sulfuric Acid:

China has the largest manufacturing base for chemicals in the world, producing about 45,000 or more chemicals. As the production of chemicals need sulfuric acid, the growth of sulfuric acid market is likely to be noteworthy during the period of 2015 to 2023. China is likely to be invested in, by global players, which is further expected to fuel the growth of sulfuric acid market by 2023. Additionally, rapid industrialization in the country can have a positive impact on the global market for sulfuric acid.

Utilization of Sulfuric Acid to rise in North America and Latin America, impacting the sulfuric acid market positively:

The rising use of fertilizers in farming and agriculture activities has improved the market for sulfuric acid. Sulfuric acid is an important ingredient required to process various fertilizers such as triple superphosphate, calcium dihydrogenphosphate, and diammonium phosphate. Hence, the market for sulfuric acid is expected to rise in the North America, Asia Pacific and Latin America regions.

Developed nations have strict government rules and regulations which can hamper the progress of the sulfuric acid market. Moreover, increasing prices of elemental sulfur, natural gas and crude oil can also obstruct the sulfuric acid market from growing at a fast pace, in the years ahead.